US equity indices jumped on Monday after reassurance from US lawmakers that the country won’t default on its debt obligations, boosting hopes of a deal to raise the debt ceiling. The odds of further gains in the indices are high, technical charts suggest. “The leaders (of Congress) have all agreed: We will not default. Every...Read More

Australian Dollar Deteriorates with Risk Appetite The sentiment-linked Australian Dollar underperformed against its major counterparts on Tuesday. This was during a day that Wall Street turned sour. The Dow Jones Industrial Average sank over 1 percent as materials and energy stocks underperformed. Meanwhile, information technology shares fared better. The Nasdaq Composite only fell -0.18%. A...Read More

The Australian Dollar dropped on doubts about the economic recovery for China after statistics revealed slowing activity. Chinese data today saw industrial production come in at 5.6% year-over-year to the end of April against the 10.9% forecast and March’s print of 3.9%. Retail sales for the same period were 18.4%, instead of the 21.9% expected...Read More

BOE MEETING AND UK GDP IMPACT The GBP selloff continued following Thursdays BoE meeting and gathered pace on Friday as GBPUSD slipped below the 1.2500 psychological level, trading at 1.2460 at the time of writing. The selloff in GBPUSD had more to do with the dollar than the GBP evidenced by the gains put in...Read More

Crude oil is steady at the start of trade on Friday after retreating overnight with the US Dollar finding firmer footing with the market taking some positives from US data. Jobless claims were above estimates at 264k for last week rather than the 245k anticipated, but PPI came in at 2.3%, instead of the 2.5%...Read More

CRUDE OIL, US CPI, RETAIL TRADER POSITIONING, TECHNICAL ANALYSIS – IGCS COMMODITIES UPDATEWTI crude oil prices gained for a fourth consecutive day, matching the longest winning streak since the beginning of April. Adding an extra 24 hours to this victory streak would mean the longest since early March. Since finding a recent bottom earlier this...Read More

The US Dollar’s vulnerability has continued to start this week after sliding lower to close out last week. This is despite 253k non-farm US jobs being added in April, well above the 160k forecast and the revised 165k prior. The unemployment rate came in at 3.4% last month, the lowest level since 1969. High beta...Read More

The Australian dollar recouped initial losses against the US dollar after data released showed Australian price pressures remain stubbornly high, keeping alive the possibility of further tightening by the Reserve Bank of Australia. Australia’s CPI rose to 7% on-year in the January-March quarter, Vs 6.9% expected from 7.8% in the previous quarter, and well above...Read More

Most Read: Gold Gains as Yields Sink, Nasdaq 100 Forges Double Top ahead of Key Tech Earnings The U.S. dollar strengthened against the Canadian dollar on Monday, but its advance was limited in a session devoid of major catalysts, with the pair moving between small gains and losses for much of the day, before resolving...Read More

The US dollar rose slightly while global equity markets ended largely flat in the past week as a positive start to the earnings season has been overshadowed by concerns that central banks may not be done with tightening just yet. The MSCI All Country World Index was largely flat, and the US dollar index (DXY...Read More